Exempt Employees

Those individuals who are ‘bono fide executive, administrative, professional or outside sales employees’ are considered exempt from the requirement to compensate overtime at the rate of at least one and half times the regular hourly compensation.

Direct Form of Compensation – Four Different Types

Direct Forms of Compensation

There are four different types of direct compensation for employees.  These include: 1) Hourly Compensation, 2) Salaries, 3) Commissions and 4) Bonuses.  There is some misinformation related to direct compensation as this subject relates to owners of a small business.

This content is for Bronze, Silver, One-Time and Contractor's Diagnostic members only.
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Exempt and Non-Exempt Employees

Exempt Employees

The Federal Labor Standards Act of 1938 sets the standards as it relates to Exempt and Non-Exempt employees and their associated compensation and work standards.  The Labor Standards Act is located in Chapter 20 Section 201 of the Federal Code.  This Act is applicable to those small business operations with more than $500,000 of annual revenues and who participate in interstate commerce.

This content is for Bronze, Silver, One-Time and Contractor's Diagnostic members only.
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